MoviePass CEO Defends Everyone's Favorite Embattled Company
(Bloomberg) -- On What'd You Miss this Week, Scarlet Fu and Joe Weisenthal spoke with Rett Wallace, the CEO of Triton Research, about Elon Musk taking to twitter to tease the possibility of taking Tesla private. Is this a real possibility or just a troll on his short-selling critics? Wallace explained to us how Musk could take his company private and the benefits that would come along with it. It's "actually pretty complicated relative to what he'd like to accomplish," Wallace told us. Stop people from betting against him.
Mitch Lowe, the CEO of MoviePass, came on to make the case for his embattled, seemingly too good to be true company. Lowe defended their business model with a message to the growing class of doubters: we are not going anywhere. A recent press release even invoked Mark Twain to take a dig at their critics -- saying "talk of our demise has been greatly exaggerated." MoviePass's reworked subscription plan goes into effect next week and will shrink the number of films customers can see from one a day to three a month. Lowe explained that most of their members will not be affected. Eighty-Five percent of the company's three million plus users already seen less than three movies a month, and the average is lowering to one a month. This change along with more plans to monetize their subscriber base will push MoviePass to break even within a year, the CEO argued.
Srinivas Thiruvadanthai, Research Director for the Jerome Levy Forecasting Center, also joined to talk about his recent piece arguing the Indian rupee has the potential to become a hard currency. Thiruvadanthai explained that when the country becomes a ten trillion dollar middle income economy by 2030, as predicted, the foundation is laid for a hard currency. He said the strategy for developing markets to achieve this involved formalizing the economy, demonetizing, and creating a generalized sales tax at the national level.
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